EUR/USD to erode 1.2337/34

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We would expect the euro to fall within a broad range between $1.21 and $1.26, with a catalyst for a breakout only emerging in September"
- Scotia Bank (based on CNBC)

Pair's Outlook
EUR/USD remains unable neither to overcome an initial resistance at 1.2402 (55 day SMA) nor to push through the nearest support at 1.2337/34. In the short-term the currency pair may try to climb over 1.2402 and aim for 1.2612/44, but will be capped there. A dip below 1.2337/34 and its subsequent extension towards 1.2060/1.9996, however, is our favoured scenario.

Traders' Sentiment
Even though the Euro is the most popular currency in SWFX marketplace at the moment, the share of long positions on EUR/USD (48%) is below the share of short positions (52%). On the other hand, the amount of buy orders (53%) is greater than the amount of sell orders (47%) on the pair.

© Dukascopy Bank SA
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Actual Topics

Thu, 09 Aug 2012 06:58:19 GMT

GBP/USD is headed towards 1.5731/79

The price is approaching a congregation of resistances at 1.5731/79, which is viewed impenetrable at the moment, being that medium and long-term indicators are bearish. Accordingly, the cable is likely to bounce off the resistance area strongly and then retreat to 1.5624/1.5599, while additional supports are located at 1.5565 and 1.5517.

Wed, 08 Aug 2012 17:12:11 GMT

GBP/JPY slowly approaching 20-day SMA

The GBP/JPY currency couple has continued its movement within the falling wedge pattern, and a breakthrough out of the pattern soon is expected. Yesterday's rally was stopped and today a small bearish reaction takes place. As for now, the price is slowly approaching the 20-day SMA at 122.52, which might stop the bearish tendency. In case it fails to reverse

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